this post was submitted on 12 Mar 2026
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Electric Vehicles
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Ford, GM, Stellantis, and now Honda with the multi billion dollar write offs.
Who's next?
Seems kinda weird tbh, like setting aside the morals of it for a sec, let's assume it's a purely business decision. Are they seriously so confident Trump's policies are going to persist beyond the next 2.5 years that they're scrapping everything EV? (I mean this as a genuine question)
They aren't necessarily all scrapping everything EV.
Ford for example wasn't making money on their current EVs, and they realized they weren't going to make enough money on them as designed so they started up a new program to build an EV from the ground up that can be profitable.
But they incurred billions in losses on their current offerings. Those losses do include learning though, so while the dollar losses are huge, the new EV program wouldn't have the same knowledge base to work off of if they hadn't done those first EVs.
So they're writing those losses off, in the interim looking more at hybrids, while also still pursuing their new EV platform.
It's still the wrong move IMO, they're going to fall further behind by doing this, and the learning will slow, and there's still no guarantee that the new platforms will be on time / profitable either possibly delaying things even further.
Worse than that: no car maker can survive on the US market alone, and every other market is transitioning towards EV, more or less aggressively. Pretty soon the only thing that will keep the ICE business alive are stupid policies to give them an artificial competitive advantage.
I really don't get what these CEOs have in their mind. At this stage I assume they're like big oil execs: maximize short-term revenue, and be long gone when shit hits the fan. But for cars, the end is even closer than for oil.
2.5 years from now doesn't exist for businesses, it's THIS quarter or nothing.